Revenue increases 25.8% YoY for Titan Machinery
In November 2021, Titan Machinery announced its third quarter financial results for fiscal 2022 (year-end January). The company reported $454.0 million in revenue over the quarter, which represents a 25.8% increase from $360.9 million over fiscal 2021. Most of this growth was concentrated in its equipment sales, which represented $329.8 million in fiscal 2022, an expansion from $240.9 million over fiscal 2021. The only segment of sales that decreased was its rental services, but that represents a small fraction of revenue.
Balance SheetIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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